Airbnb, Inc. (NASDAQ:ABNB) Shares Sold by Prio Wealth Limited Partnership

Prio Wealth Limited Partnership lowered its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 14.5% during the second quarter, Holdings Channel reports. The fund owned 110,432 shares of the company’s stock after selling 18,689 shares during the quarter. Prio Wealth Limited Partnership’s holdings in Airbnb were worth $16,745,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. CHURCHILL MANAGEMENT Corp acquired a new stake in Airbnb during the 1st quarter worth about $7,628,000. SteelPeak Wealth LLC grew its holdings in Airbnb by 17.2% during the first quarter. SteelPeak Wealth LLC now owns 6,708 shares of the company’s stock worth $1,107,000 after acquiring an additional 985 shares during the period. ProShare Advisors LLC raised its position in Airbnb by 20.6% during the first quarter. ProShare Advisors LLC now owns 488,869 shares of the company’s stock valued at $80,644,000 after acquiring an additional 83,383 shares in the last quarter. Shellback Capital LP acquired a new position in Airbnb in the second quarter valued at approximately $22,744,000. Finally, State of Tennessee Treasury Department boosted its position in Airbnb by 35.8% in the 4th quarter. State of Tennessee Treasury Department now owns 143,254 shares of the company’s stock worth $19,503,000 after purchasing an additional 37,785 shares in the last quarter. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ABNB. Piper Sandler cut their target price on shares of Airbnb from $155.00 to $125.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Mizuho cut their price objective on shares of Airbnb from $175.00 to $170.00 and set an “outperform” rating for the company in a report on Friday, September 13th. JPMorgan Chase & Co. lowered their target price on shares of Airbnb from $145.00 to $121.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Argus cut Airbnb from a “buy” rating to a “hold” rating in a research report on Wednesday, September 4th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Airbnb in a report on Wednesday, August 7th. Five research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $134.16.

Airbnb Stock Performance

NASDAQ:ABNB opened at $125.47 on Wednesday. The company’s 50-day moving average is $122.82 and its two-hundred day moving average is $142.74. The firm has a market capitalization of $80.81 billion, a price-to-earnings ratio of 16.80, a PEG ratio of 1.72 and a beta of 1.16. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.41 and a quick ratio of 1.41. Airbnb, Inc. has a 1-year low of $110.38 and a 1-year high of $170.10.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.06). Airbnb had a return on equity of 34.74% and a net margin of 46.11%. The business had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.74 billion. During the same quarter in the previous year, the company posted $0.98 earnings per share. The company’s revenue was up 10.6% on a year-over-year basis. Analysts forecast that Airbnb, Inc. will post 4.39 EPS for the current year.

Insider Buying and Selling

In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the company’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $152.92, for a total value of $91,752.00. Following the transaction, the chief technology officer now owns 208,174 shares of the company’s stock, valued at $31,833,968.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Elinor Mertz sold 6,250 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total transaction of $750,000.00. Following the completion of the transaction, the chief financial officer now directly owns 537,072 shares in the company, valued at approximately $64,448,640. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $152.92, for a total value of $91,752.00. Following the completion of the transaction, the chief technology officer now directly owns 208,174 shares of the company’s stock, valued at $31,833,968.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 552,389 shares of company stock valued at $75,733,256. 27.83% of the stock is currently owned by insiders.

Airbnb Company Profile

Airbnb, Inc, together with its subsidiaries, operates a platform that enables hosts to offer stays and experiences to guests worldwide. The company's marketplace connects hosts and guests online or through mobile devices to book spaces and experiences. It primarily offers private rooms, primary homes, and vacation homes.